has acquired

Berkshire Global Advisors client Sun Life Financial has acquired Prime Advisors

Date: June 2015

Sector: Investment Management

Sub-Sector: Fixed Income

Region: North America

Seller AUM: $13 Billion

Seller Details
With offices in Redmond, Washington, and Windsor, Connecticut, Prime Advisors, Inc. is a federally registered investment advisory firm focused primarily on managing investment grade bond portfolios for the insurance industry.

Buyer Details
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Investment Management is an institutional investment management arm of Sun Life Financial that includes the investment operations of Sun Life Assurance Company of Canada, Sun Life Investment Management Inc. in Canada, and Ryan Labs Asset Management Inc. in the United States.

Transaction Summary
Sun Life Investment Management and Prime Advisors, Inc. announced today an agreement whereby Sun Life Financial Inc. will purchase Prime from the firm’s current owners. Prime is an investment management firm specializing in customized fixed income portfolios, primarily for U.S. insurance companies. The acquisition is part of Sun Life’s strategy to broaden its asset management pillar by expanding and diversifying the capabilities of Sun Life Investment Management, which provides investment services to third parties and manages Sun Life’s general account. Following completion of the transaction, Prime will operate as a standalone unit of Sun Life Investment Management. Prime will retain its brand and maintain its offices in Redmond, Washington, and Windsor, Connecticut.